Bleakley Financial Group LLC Acquires 7,775 Shares of The Bank of New York Mellon Corporation $BK

Bleakley Financial Group LLC increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 51.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,871 shares of the bank’s stock after acquiring an additional 7,775 shares during the quarter. Bleakley Financial Group LLC’s holdings in Bank of New York Mellon were worth $2,492,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its holdings in shares of Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon in the third quarter worth about $33,000. Caldwell Trust Co purchased a new position in Bank of New York Mellon in the second quarter valued at about $36,000. Quaker Wealth Management LLC grew its position in shares of Bank of New York Mellon by 198.9% during the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock valued at $41,000 after acquiring an additional 905 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $52,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $115.42 on Tuesday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The company has a market cap of $80.49 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The stock has a 50-day moving average price of $119.30 and a 200-day moving average price of $111.81.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Wall Street Analysts Forecast Growth

BK has been the subject of several research reports. Morgan Stanley increased their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Barclays raised their price objective on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. TD Cowen increased their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.